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Former wife of Russian mogul detained in Cyprus over 25 million euro ring

Elena Rybolevla, the former wife of Russian billionaire Dmitry Rybolevlev, was detained and subsequently conditionally released in Cyprus on Monday in connection to the alleged theft of a diamond ring estimated to be worth 25 million euros.

A warrant had been issued for Rybolevla's arrest after a lawsuit was filed by the jewel's owner, Domus Trust, a Cypriot international trust managing the assets of the couple's two daughters.

Dmitry Rybolevlev was a major Bank of Cyprus shareholder before the island-country sought a bailout.

On Monday, Rybolevla presented authorities with documents claiming that she had bought the diamond ring. The Domus Trust alleges that she had borrowed the ring and given it to her 25-year-old daughter in 2009 but had failed to return it to the trust.

A lawyer for the Russian mogul said on Monday that the arrest had nothing to do with his client.

Meanwhile, one of the couple's daughters, Ekaterina, bought the Greek private island of Skorpios last year. The property formerly belonged to Athina Onassis de Miranda, granddaughter of Aristotle Onassis.